Coding and Reimbursement Basics for the Interventionalist-What Does MIPS Participation Mean for Your Practice?

What Does MIPS Participation Mean for Your Practice?

Video Transcription

Video Summary

The video provides an overview of the Merit-Based Incentive Payment System (MIPS) and its implications for healthcare providers. MIPS is a program in which all physicians enrolled in Medicare must participate if they meet certain criteria. Participation affects Medicare reimbursement, with penalties up to 9% and bonuses up to 9% depending on participation. MIPS reporting consists of four components: quality, improvement activities, promoting interoperability, and cost measures. Each component contributes a percentage to the final MIPS score. The video also introduces the concept of MIPS Value Pathways (MVPs), offers information on alternative payment models (APMs), and outlines the benefits and requirements of advanced APM participation.

Keywords

Merit-Based Incentive Payment System

MIPS

healthcare providers

Medicare reimbursement

MIPS reporting